Schwab (SCHW) Prefers Arbitration, But Class-Action Participation Now Allowed
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Schwab (NYSE: SCHW) shares are flat in early trading amid news that the long-time brokerage will elminate a requirement that customers must waive their right to participate in class-action lawsuits against the firm.
The provision, initiated in September 2011, requires that disputes between Schwab and clients be handled through arbitration. The revised language covers events from May 15, 2013, onward.
Schwab will continue paying arbitration fees, enabling even the smallest of investors to file a claim.
The provision, initiated in September 2011, requires that disputes between Schwab and clients be handled through arbitration. The revised language covers events from May 15, 2013, onward.
Schwab will continue paying arbitration fees, enabling even the smallest of investors to file a claim.
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